ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Aug 23 09:26

Soon You Can Buy Bitcoin With a Debit or Credit Card

By Jeff Paul

Buying bitcoin has been complicated since its origin. That may be about to change.

Coinbase announced a pilot program to allow some users to buy bitcoin with debit cards or credit cards...

Aug 23 09:25

Who holds the world’s sovereign debt?

Aug 23 08:31

Loss of Manufacturing Jobs Isn’t ‘Tectonic’–It’s a Policy Choice

snip: There is also a fundamental difference between the shift out of manufacturing jobs and the shift out of agricultural jobs to which Rattner refers. Workers left agricultural jobs for higher-paying, higher-productivity jobs in manufacturing. The jobs didn’t actually disappear; the workers did not want them.

This is the exact opposite of what we are seeing with manufacturing jobs. Workers are losing relatively good paying jobs in sectors like autos and steel, and are then forced to take low-pay, low-productivity jobs in the retail or restaurant sectors.

Aug 23 08:26

Sanders Vows to Smash Biggest US Banks at Campaign Rally

Democratic presidential candidate Bernie Sanders pledged to break up the biggest financial institutions in the United States at a rally in Greenville, South Carolina, his campaign said in a press release.

WASHINGTON (Sputnik) – Sanders is challenging Democratic frontrunner and former Secretary of State Hillary Clinton, who lost the 2008 Democratic primary in South Carolina against future-President Barack Obama.
Democratic presidential candidate Sen. Bernie Sanders, I-Vt., speaks at a rally, Monday, Aug. 10, 2015, at the Los Angeles Memorial Sports Arena in Los Angeles
© AP Photo/ Ringo H.W. Chiu
Bernie Sanders Wants to Abolish Private Prisons with New Bill

“If a bank is too big to fail it is too big to exist,” Sanders told the crowd of 2,800 at the TD Convention Center, according to the release issued on Friday.

Aug 22 15:53

The Age of Imperial Wars

WWIII - the curtain goes up

Aug 22 12:58

Phoney Opposition: The Truth About the BRICS

snip: But when it comes to the machinations of global geopolitics, this is completely the wrong lens through which to understand what is happening. Much more to the point would be the metaphor of rival gangs competing for territory. It is not the case that the Bloods are the “good guys” and the Crips the “bad guys” or vice versa; they are both criminal networks that use brutality and violence to enforce their control over given areas and to terrorize others.

Similarly, if we understand that rivalries between various international organizations (to the extent that they exist at all) are really only battles between gangsters for control over the global turf, we can more clearly understand that it is not a question of choosing sides in the struggle, but opposing the very ideologies of centralized, hierarchical control that make these institutions possible.

Aug 22 12:46

All Hell Is About To Break Loose As The World Hurtles Into Chaos And Unprecedented Levels Of Fear

such a fuss! I'll get more excited when Gold-in-my-sacks can't meet a margin call...

Aug 22 12:17

Market Volatility and the Twilight of the Dollar

20th August 2015 has been a fascinating day in the markets: oil has plunged, Kazakhstan and Vietnam have both floated their currencies, the Kazakh currency has fallen by 20% in a single day, and what are politely referred to as the currencies of the “emerging market economies” - which include the rouble - have all fallen in unison. In Russia the rouble has tracked the fall in the price of oil, with Economics Minister Ulyukaev saying that because oil is likely to continue its fall, the rouble is likely to fall further.
Russia’s budget deficit is now no greater than that of the US - supposedly in the sixth year of recovery - and is half the size of Britain’s - on the strength of the reduction of which Britain’s governing Conservatives have just been re-elected.
As I have explained many times, the reason Russia’s budget deficit is so small and why the balance of trade remains in surplus, is because the government decided to float the rouble last year.

Aug 22 10:33

Bad Credit CANNOT Be Made Good!

Aug 22 10:20

This Economic Collapse Will Push The US Into A 3rd World Country: Bill Holter

after the great reset, how much demand will there be for your skills? How are your negotiating/trading skills?

Aug 22 09:57

New Highs Tie Record For Futility

Aug 22 09:46

Dow 5,000? Yes, It Could Happen

Aug 22 09:26

After the Bailout: The Spoils of Greece Are Bound for Germany

The 'Asset Development Plan' for Greece is out and it's all go for the privatization of the country. Hellenic sea ports, air ports, motorways, petroleum companies, water and gas supply, real estate, holiday resorts - it's all for sale.

Aug 22 09:00

Unless There Is A Huge War In Korea, How Will China And The United States Explain The Crash Of Their Stock Markets On Monday?

That is why something has to happen in Korea this weekend.

Things have been brewing for a while, remember when the New York stock exchange shut down for 4 hours one day after China melted down the night before?

Aug 22 08:10

OPERATION CHOKE POINT: THE GOVERNMENT’S COVERT WAR ON SMALL BUSINESS

Banks are sending notices of account closure out to small businesses across the country, to clients they’ve done business with for years, even decades. The reason? They often don’t provide one.
But a growing number of business owners believe they know why they’re being cut off from the financial system. It’s Operation Choke Point, ostensibly an attempt to crack down on fraudulent businesses, but in reality a dragnet that has ensnared innocent entrepreneurs unfairly classified as “high-risk” players.

Aug 22 07:55

Global Markets Show Mixed Results

After the release of U.S. data, the global markets showed mixed results.

Aug 22 07:55

U.S. May Be Impacted by Greece Crisis

More so than originally thought, the U.S. might be impacted by the financial crisis in Greece.

Aug 22 07:54

Many U.S. States Facing Pension Hole

Financial unrest in Puerto Rico and Greece may seem far from home, but now many U.S. states are facing huge financial shortfalls due to pensions.

Aug 22 07:54

Locally Owned Candle Company is Vital to Ohio Town

The Candle-Lite Company is a 175 year old candle making company that is vital to the survival of one small town in Ohio.

Aug 22 07:53

U.S Proposes Ban on Ivory Trade

The U.S. has proposed a ban on ivory trade to help the declining elephant population.

Aug 22 06:29

Rand Paul wants to "make the Fed more effective"

Unlike his father Ron, who sought to "abolish the fed," Rand insists "it's reasonable that the Fed should be audited more thoroughly than in the past."

Aug 22 06:24

The Sad Truth About Today's World Illustrated

Art isn’t all fairytale photoshoots and landscape shots – it can also act as catalyst of change. And Steve Cutts thinks that many things in the world should be different. Work shouldn’t be a grinding, soul-crushing rat race for the almighty dollar. Consumerism shouldn’t hold a vice-like grip on our lives. And social media, well, we need to throw-off the shackles we so eagerly put on ourselves. Wouldn’t life be better then?

Aug 22 06:17

This 2 Day Stock Market Crash Was Larger Than Any 1 Day Stock Market Crash In U.S. History

We witnessed something truly historic happen on Friday. The Dow Jones Industrial Average plummeted 530 points, and that followed a 358 point crash on Thursday. When you add those two days together, the total two day stock market crash that we just witnessed comes to a grand total of 888 points, which is larger than any one day stock market crash in U.S. history.

Aug 22 02:14

U.S. Stocks: End of the Complacent Era?

Aug 21 17:54

Aw, you poor things : World’s Richest People Lose $182 Billion as Market Rout Deepens

The world’s 400 richest people lost $182 billion this week from their collective fortunes as weak manufacturing data from China and a rout in commodities sent global markets plunging.

Aug 21 17:50

Sen. Bernie Sanders: From Greece to Puerto Rico, the Financial Rules Are Rigged to Favor the 1%

Democratic presidential hopeful Bernie Sanders recently convened a panel of economists in Washington to discuss the debt crisis in Greece and throughout the world. In his opening statement, Sanders talked about the debt crisis in Greece as well as in Puerto Rico. "It is time for creditors to sit down with the governments of Greece and Puerto Rico and work out a debt repayment plan that is fair to both sides," Sanders said. "The people of Greece and the children of Puerto Rico deserve nothing less."

Aug 21 15:38

Gold Bugs and S&P 500 about to change trend?

Aug 21 15:06

Blood On The Streets Of Europe - Stocks Crash By Most In 4 Years, Bond Risk Surges

Carnage - everywhere. A surging EUR - as CNH carry traders unwind en masse - has led to an unwind across most risky assets in Europe. This week saw EuroStoxx 600 - the broad index - crash almost 6%, its biggest drop since September 2011. Perhaps most stunningly, Germany's DAX was the biggest loser - collapsing 7.4% on the week. European bonds are are also seeing risk increase dramatically with Portugal and Italy worst (aside from Greece's blowout). Europe's VIX topped 30 this week, as US VIX surges.

Aug 21 15:04

"No Brainer" AAPL Enters Bear Market

Following the biggest 4-day decline in AAPL stock since Jan 2014, the "no brainer" once-darling of the investing world has just officially entered a bear market, down 20% from its April record highs.

Aug 21 14:24

VIX Soars 46%

Aug 21 14:17

Dow 5,000? Yes, it could happen

Aug 21 14:06

How To Survive When You Can’t Pay Your Bills

Let’s talk about poverty.

I don’t mean the kind you’re talking about when your friends invite you to go shopping or for a night out and you say, “No, I can’t. I’m poor right now.”

Aug 21 12:39

In bid to ram through austerity package, Tsipras calls snap elections in Greece

Greek Prime Minister Alexis Tsipras used a nationally televised address yesterday evening to announce his resignation and the calling of snap elections. While Tsipras defended his government’s imposition of a European Union (EU) package of deep austerity measures, government sources said the elections would most likely be set for September 20, before these measures begin to go into effect in October.

Aug 21 12:29

Stocks, Oil Plunge and It’s Not Even September Yet: “Feeling of Fear in the Marketplace”

Today's market crash shows a very real fear has set in about how quickly it could all come unglued.

Here's just a few quotes about that market sentiment:

“Right now there is a feeling of fear in the marketplace and all news is interpreted negatively" [...]

“I think uncertainty about China (and) general negativity is weighing on the market." [...]

“It’s a very important psychological level... It really signals that the global economy is in trouble.”

Read more at SHTFplan.com

WEBMASTER ADDITION: Before "Black Tuesday" October 24, 1929, there had been a smaller crash in August. That the market appeared to recover generated a false sense of safety and even more reckless margin trading, leading to the October crash. Today may be our "August."

Aug 21 12:28

Gold prices heading up.

Webmaster's Commentary: 

'Quick! Sell more worthless paper contracts! We gotta keep gold down so people don't dump their stock portfolios!" -- Gold in my Sacks

Aug 21 12:18

Stocks plunge in global sell-off posting their worst week of 2015

Fresh worries about China’s economy; oil prices see longest losing streak in almost 30 years.

World stock markets fell sharply on Friday, heading for their worst week of the year, and commodities swung lower as more data pointed to slower growth in China and sent investors scurrying to the safety of bonds and gold.

Webmaster's Commentary: 

Aug 21 12:09

A Death Cross, Wild Market Swings And A Currency War – And We Haven’t Even Gotten To September Yet

Things continue to line up in textbook fashion for a major financial crisis by the end of 2015. This week, Wall Street has been buzzing about the first “death cross” that we have seen for the Dow since 2011. When the 50-day moving average moves below the 200-day moving average, that is a very important psychological moment for the market. And just like during the run up to the stock market crash of 2008, we are starting to witness lots of wild swings up and down. The Dow was up more than 200 points on Monday, the Dow was down more than 200 points on Tuesday, and it took a nearly 700 point roundtrip on Wednesday.

Aug 21 12:08

We Have Already Witnessed The First 1300 Points Of The Stock Market Crash Of 2015

What has been happening on Wall Street the past few days has been nothing short of stunning. On Thursday, the Dow Jones Industrial Average plummeted 358 points. It was the largest single day decline in a year and a half, and investors are starting to panic. Overall, the Dow is now down more than 1300 points from the peak of the market. Just yesterday, I wrote about all of the experts that are warning about a stock market crash in 2015, and after today I am sure that a lot more people will start jumping on the bandwagon.

Aug 21 12:08

The Truth About Welfare: Past, Present and Future

government programs create more government programs to deal with the unintended negative consequences
helping the poor thru government programs ensure more widespread poverty later

Aug 21 12:04

12 Signs That An Imminent Global Financial Crash Has Become Even More Likely

Did you see what just happened? The devaluation of the yuan by China triggered the largest one day drop for that currency in the modern era. This caused other global currencies to crash relative to the U.S. dollar, the price of oil hit a six year low, and stock markets all over the world were rattled. The Dow fell 212 points on Tuesday, and Apple stock plummeted another 5 percent. As we hurtle toward the absolutely critical months of September and October, the unraveling of the global financial system is beginning to accelerate. At this point, it is not going to take very much to push us into a full-blown worldwide financial crisis. The following are 12 signs that indicate that a global financial crash has become even more likely after the events of the past few days…

Aug 21 11:31

Keiser Report: $32 trillion in pointless trading

In this special episode of the Keiser Report from Chicago, Max Keiser and Stacy Herbert discuss the $32 trillion in pointless trading each and every year.

Aug 21 11:18

Weekend Reading: Is This The Big One?

Aug 21 10:53

93 million unemployed in the US. Was Trump right?

In an interview with Time magazine, presidential candidate Donald Trump made the following statement about the U.S. economy:
"In reality, the unemployment rate in our country, probably 21%. Not 6%. Not the 5.2% to 5.5%. I'm talking about the real unemployment rate: in fact, I recently saw a graph of our real unemployment, and 90 million people are not working. More precisely, 93. If to count, our real unemployment rate is 42%".

Aug 21 10:51

10 currencies, which can follow the example of tenge

Historically, Kazakhstan has always been on the periphery of the financial markets. However, this Central Asian country in recent times was a shock to the world currency markets.
On Tuesday, the national currency of Kazakhstan collapsed after Kazakhstan has moved to a floating exchange rate of tenge, which caused serious concern to politicians. This situation showed investors that developing countries have become too expensive to protect their currencies.
Vietnam devalued the Dong, and freely traded currencies, such as South Africa Rand and the Turkish Lira also lost value. The reason for this wave of devaluation was the decision of China to weaken the yuan on August 11, with the result that countries that compete with China in export markets and those who trade with China, was in a very disadvantageous position.

Aug 21 09:49

In the US the second city after Detroit declared bankrupt

In particular, we are talking about a relatively small city Hillview, a population of about 8 thousand people. The city is bankrupt in Kentucky. Earlier, in 2013, for the first time in US history, the Detroit declared himself bankrupt.
Hillview has filed a claim for recognition of its bankruptcy due to inability to pay the debt of $ 100 million. The city has the assets only in the amount of $ 10 million. The reason for the high debt is a legal battle with the Truck America Training because of the deal for the sale of land. The court ordered the city to pay the company $ 11.4 million.

Aug 21 09:44

Plunge Protection Teams of the World, Unite!

Aug 21 09:41

FLASHBACK - THE WRH BANKER ARTICLES: ALL IN ONE CHUNK

I have received many emails regarding the various articles I have written about the problems with the current economic system of being forced to borrow all currency at interest from a privately-owned central bank. This is, of course, the very system of banking the United States fought a revolution to be free of, only to be sold back into said banker slavery not just once, but three times by corrupted congresses and corrupted presidents.

I have been asked to collect all those articles into a single page to make it easier for people to send to their friends, and this collection is the result.

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Aug 21 09:16

Stocks Extend Drop as Crude Oil Slumps on China Slowdown

Aug 21 08:44

What Drought? Nestle Pays Only $524 To Extract 27,000,000 Gallons Of California Drinking Water

Nestle has found itself more and more frequently in the glare of the California drought-shame spotlight than it would arguably care to be — though not frequently enough, apparently, for the megacorporation to have spontaneously sprouted a conscience.

Aug 21 08:25

Do the Rich Rule the United States?

Is America’s political system controlled by a small financial elite? One former president thinks so.

Almost 40 years after he was elected, former President Jimmy Carter commented recently that our political system is now “an oligarchy with unlimited political bribery.” He may be right.

Aug 21 08:19

In bid to ram through austerity package, Tsipras calls snap elections in Greece

Greek Prime Minister Alexis Tsipras used a nationally televised address yesterday evening to announce his resignation and the calling of snap elections. While Tsipras defended his government’s imposition of a European Union (EU) package of deep austerity measures, government sources said the elections would most likely be set for September 20, before these measures begin to go into effect in October.

Aug 21 08:16

The Fed Is Bluffing About a 2015 Rate Hike

What did we tell you…

The Janet Yellen Fed will not raise interest rates in any meaningful way anytime soon. Instead, she will announce new QE programs.

Yesterday, red was showing up just about everywhere – U.S. stocks, European stocks, Asian stocks, emerging markets stocks, crude oil…

Aug 21 08:12

WHAT DROUGHT? NESTLE PAYS ONLY $524 TO EXTRACT 27,000,000 GALLONS OF CALIFORNIA DRINKING WATER

Nestle has found itself more and more frequently in the glare of the California drought-shame spotlight than it would arguably care to be — though not frequently enough, apparently, for the megacorporation to have spontaneously sprouted a conscience. Drought-shaming worked sufficiently enough for Starbucks to stop bottling water in the now-arid state entirely, uprooting its operations all the way to Pennsylvania. But Nestle simply shrugged off public outrage and then upped the ante by increasing its draw from natural springs — most notoriously in the San Bernardino National Forest — with an absurdlyexpired permit.

Aug 21 08:10

Fall of ruble and tenge stimulates economic restructuring of Russia, Kazakhstan — official

The fall of the ruble and the tenge against the US dollar and euro should encourage the restructuring of the economies of Russia and Kazakhstan, said the Head of Eurasian Development Bank Dmitry Pankin in an interview with Russian TV channel Rossiya-24 on Friday.
"Such low prices should finally stimulate the economic restructuring ... The change of the exchage rate, such a fall of the national currencies - the ruble, tenge, it creates an opportunity for the development of other industries, to diversify the economy," said Pankin.

Aug 21 07:56

The Monster Plot - Are Russian Spetsnaz in full motion in America?

According to ex-KGB officer Anatoly Golitsyn who defected to the West all-the-way back in 1961, the Soviet Union had plans to fake their own collapse (which later happened back in 1991) as part of their strategy to ultimately defeat the West by uniting with them under a world government led by none other than the Russians and Chinese.

As we watch events unfold today as America turns into a socialist nightmare and Russia, China and BRICS prepare to seize control of the global finance machine away from the US, we have to ask if we are now watching the concluding acts of a plan set into motion many years ago?

Aug 21 07:50

WHEN $8.5 TRILLION IS CHUMP CHANGE

here’s my real concern. The $8.5 trillion is just the bit that the Pentagon can’t account for. That’s far from all the money it was given. U.S. military spending, spread across several departments with the biggest chunk of it to the Department of so-called Defense, is upwards of $1 trillion every year. Over 17 years at the current rate, which rose sharply after 2001, that’s upwards of $17 trillion.

Imagine that the Pentagon accounted for every dime of that missing $8.5 trillion, named every profiteer, documented the life history of every man, woman, and child killed, and passed the strictest audit by an independent team of 1,000 accountants reporting to 35 Nobel Laureates — if that happened, I ask you, exactly what difference would it make?

Aug 21 07:38

Social engineering 2.0 Google algorithm poses “serious threat to democratic system”

Did democracy just get downgraded (yet again)?

Social engineering is now a dated practice, that has undoubtedly influenced nearly all our lives for the past century in ways that many of us perhaps don’t notice.

Aug 21 07:32

Loss of Manufacturing Jobs Isn’t ‘Tectonic’–It’s a Policy Choice

Wall Street executive Steve Rattner had a column (8/14/15) in the New York Times in which he derided Donald Trump’s economics by minimizing the impact of trade on the labor market. While much of Trump’s economics undoubtedly deserve derision, Rattner is wrong in minimizing the impact that trade has had on the plight of workers.

Aug 21 07:27

THE FATAL FLAWS IN WALL STREET'S ECONOMIC THEORY

Back in 2008, in testimony before Congress in the wake of the crash of Wall Street's mortgage-backed securities scam, former Federal Reserve Chairman Allan Greenspan made the admission that his "ideology" had a flaw.

Greenspan and the members of Congress relied heavily on euphemisms like "ideology" and spoke in vague terms to obfuscate from the American people that there are fundamental flaws in the way the US Financial system works.

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